Another lelong unit check in.
Owner bought the unit via subsale 3 years ago at 515k.
Now lelong at 365k.
Title issued and perfection done.



E-16-2, Villa Wangsamas Condominium
Reserve price🔥🔥RM 364,500🔥🔥
Freehold
1270 sqft
1 car park slot
Auction: 20-Jan-2020 (Mon)
*Anyone can buy
*Occupied unit (no info who is staying)

No bidder today. Further price drop.
So cheap also nobody biting? Hmm...all waiting for cheaper price so that can fight each other next month? 

G-5-7, Villa Wangsamas Condominium
Reserve price🔥🔥RM 408,000🔥🔥
Freehold
1834 sqft
1 car park slot
Auction: 25 Feb 2020 (Tue)
*Vacant unit
*Non bumi lot
*Title issued but perfection not done

Unit sold at 418k today.
Good catch.  :thumbsup:

As we now know, m'sian property market never takes a nosedive, rather, it's a gradual downtrend because holding power is quite strong, plus there is always upward pressure from property scums agents and sellers, downward pressure is from buyers and owners going bankrupt. The latter is rarely stronger than the former, hence you see a fast uptrend blow slow downtrend. Banks just go whichever way the wind carries them. As long as the buyers stop buying, we can expect the downtrend to continue.

Property is illiquid, price takes years to bottom. Until Overhang is reduced substantially, price will remain suppressed.

As we now know, m'sian property market never takes a nosedive, rather, it's a gradual downtrend because holding power is quite strong, plus there is always upward pressure from property scums agents and sellers, downward pressure is from buyers and owners going bankrupt. The latter is rarely stronger than the former, hence you see a fast uptrend blow slow downtrend. Banks just go whichever way the wind carries them. As long as the buyers stop buying, we can expect the downtrend to continue.

Some idiot will attract foreign buyers.... long wait.

the age old question of whether to rent vs buy needs to be addressed.. if it is cheaper to rent, then the answer is don't buy. and vice versa..

Generally true, it also depends on how much cheaper it is to rent. If it's only 20-30% cheaper, I'd say probably not worth it. But I've heard stories where people manage to rent out their units for higher than installment payments, which I find hilarious.

what's hilarious about that? I'm one of those people.. lol.

I figured a place where rental was high and property prices in 2016, was relatively low..

so in the end, I bought and over-time, the rental become more than my repayments. And the property price also increased.

That's how you play the real estate game. haha..

I still find it funny. Why would someone pay more for rent than they would for installment?

They cant afford the downpayment for a loan?

Short term rental?

Renting out single rooms, but when combine the entire rental is more than instalment..
etc.

many reasons why somebody willing to pay more for rent than instalment.. lots of stupid and desperate people out there.

what's hilarious about that? I'm one of those people.. lol.

I figured a place where rental was high and property prices in 2016, was relatively low..

so in the end, I bought and over-time, the rental become more than my repayments. And the property price also increased.

I'm now shopping around for a new mortgage, and lowering my monthly repayments further. So my net positive gain from rental is now 7%.. (rental income deduct tax + interest+ maintenance+ upkeep)

That's how you play the real estate game. haha..

Mind to share where was that?

Want to learn context on how to select such properties.

No bidder again at 263k. 
Remember owner bought the unit at 450k.
Now is 200k loss at least.

C-18-7, Type F, Hedgeford 10
Reserve price 🔥🔥RM 237,000‬🔥🔥
Freehold
562sqft, 1 car park slots
Corner/End lot unit
Auction: End of Feb 2020
*Occupied unit (tenant staying)

Attracted 4 bidders.
Sold at 242k just now.
Good catch. Tenant also already left the unit. Vacant unit now.  :thumbsup:

Another cheap lelong unit check in from here.
Drop from 600k.
Now 40% off bank value. At 6th round re-auction. 

C-9-20, Block C, Armanee Condominium
Reserve price 🔥🔥RM342,000🔥🔥
1645 sqft (duplex)
Leasehold until 2111
Auction:  11-Mar-2020 (Wed)


Previous Auction(s) for this property
Auction Date  Price
2019-09-12  RM360,000.00
2019-03-13  RM440,000.00
2019-01-30  RM486,000.00
2018-12-14  RM540,000.00
2018-08-29  RM600,000.00

Just checked last week, about 10+ units left from developer. But the condition wasnt that good as it's unoccupied for 7 years, all the partly furnished item are pretty old, stained, yellowish and have to be replaced before moving in. The island they provide comes with solid surface only and it's totally dark yellow now. The see hoy chan salesgirl said can be polish but I doubt that.
Kitchen cabinets are using melamine only, also very yellow.
6 airconds condition looks very old and yellowish too. Not sure whether it's working..
Buildin wardrobe in all 4 rooms are with some yellow patches here and there.. Definitely not using..
I would rather they sell unfurnished unit. Imagine how much I need to pay to remove everything before install new ones.. 


And the warranty is over, the developer selling as it is. They are not going to repair or touch up anything for you.
1.4m for such condition now way la..

If want to buy may consider secondhand unit, some renovate quite nice and still nice condition too.. Some of them selling at 1.45m+, it's like selling at their purchasing price after 7 years..
But if you really like to stay at BU location, probably worth it..

Cheap lelong unit check in below 400k once again.

A-33-12, Residensi Aurora
Reserve price 🔥🔥RM381,000🔥🔥
Leasehold
1141sqft, 2 car park slots
Auction:  10-Mac-20 (Tue)
*non bumi lot